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Coinbase CEO expects revenue to fall over 50% amid FTX collapse

Yahoo Finance Video

Yahoo Finance Live anchor Seana Smith reports on recent earnings testimonials from the Coinbase CEO amid the crypto fallout.

Video Transcript

SEANA SMITH: Coinbase shares today trading lower off just about 1 and 1/2%. CEO Brian Armstrong telling Bloomberg in an interview that the cryptocurrency exchange's revenue is set to be cut by half or more this year. The crypto industry has been battered by falling prices, and of course, the fallout from the FTX bankruptcy. So far this year, Coinbase shares have dropped over 80%.